Howard Shultz, Chairman of coffee giant Starbucks has revealed they aim to include Blockchain technology and cryptocurrencies into their future payment strategy. However, the 64-year old businessman does not feel that Bitcoin will be involved, adding that the very first digital currency would not exist in the future.

Shultz also confirmed that Starbucks will not be exploring the use of Blockchain technology within the business, but would utilise their prominence to lend integrity to such technology. He also added that the world is travelling towards a new age regarding Blockchain technology, and Starbucks could use their status to benefit these changes.

In 2015, Starbucks launched a mobile payment app allowing users to pay and order via an application whilst receiving rewards. In a recent statement, Shultz added that Starbucks could greatly help businesses who are investigating the use of such technology by using their new platform.

Payments via smartphones and mobiles make up a third of American Starbuck’s transactions, and Shultz also confirmed that the international company is investigating cashless shops. However, this isn’t the first time Starbucks are exploring innovative payment methods, as in 2012, they embraced Square to process all credit and debit card transactions.